Sees FY EBITDA 780-830 mln eur (Il Sole 24 Ore Radiocor) - London, 25 Apr - The French Channel tunnel operator Getlink said that in the first quarter revenue fell 23% year on year to 391 million euros.

Revenue for the Eurotunnel business was stable at 244 million euros but rose 14% to 40 million for Europorte.

Revenue for the ElecLink fell 54% to 107 million euros in a context of the normalisation of the electricity market.

"As anticipated, the first quarter of 2024 was marked by the normalisation of ElecLink's contribution and increased competition from the ferries. Against this backdrop, the Group has strengthened its operational performance in the service of its customers, enabling Eurotunnel's revenues to show solid resilience and Europorte to grow. We will continue to pursue our customer-focused and cost-containment strategy, the effects of which should be reinforced by the application of the law to combat social dumping on cross-Channel routes in July 2024," said the CEO, Yann Leriche.

Getlink noted that its credit rating was upgraded to 'BB' from 'BB-' by S&P Global Ratings.

The group confirmed that it expects EBITDA in 2024 to be between 780-830 million euros.

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(RADIOCOR) 25-04-24 12:52:01 (0359) 5 NNNN